Currency Seizures

According to International Trade Law, and the Currency and Foreign Transaction Reporting Act, anytime a person will be carrying large amounts of cash, coin, or negotiable securities amounting over $10,000 into the United States, or out of the country, the law demands that they report this to United States Customs before they leave or enter the US. This also applies to those who are mailing large amounts of currency or having it sent into or out of the United States by other means. This act of reporting large amounts of currency is known as “declaring,” and is one example of what Customs is referring to when they ask if you have anything to declare.

It is not against the law to carry amounts of currency into or out of the country, but if you do not declare the amount before attempting to enter or leave the United States, the currency will be seized by United States Customs.

In most cases, the money will be retrieved but the process can be very long and arduous and it can be difficult to substantiate to Customs the source of the cash. An experienced Customs Compliance Lawyer such as Boston Customs Lawyer Paula Connelly can help you through this type of currency seizure so that you are able to reclaim as much of your funds as possible.

What Happens In Cash Seizures

Once Customs discovers that a person has attempted to bring a large amount of cash, coin, or other negotiable security over the amount of $10,000 into the United States, the money will be seized. The person will then receive a seizure notice, informing them that the cash seizure or currency seizure has occurred. It is best in these situations for the person whose currency has been seized to contact a Customs lawyer such as Paula Connelly.

What Can A Trade Lawyer Do in a Currency Seizure?

Of course, the best scenario when it comes to currency seizures is to avoid it happening altogether. Most times, the violations which cause currency seizures are simply the result of a passenger failing to fill out the mandatory forms to declare their currency, or filling them out incorrectly. Even the most innocent of travelers can make simple mistakes on these forms, and end up with their cash, coin, or other currency seized. A knowledgeable Customs lawyer such as Paula Connelly can offer counseling to any individual or business who needs to declare a large amount of currency. If the money has already been seized, the Law Offices of Paula Connelly can prepare the needed petitions to seek restitution of the seized currency, address any factors needed, and work with Customs to retrieve your money for you.